![]() The returns of -3.90% on Nifty in Nov-21 shows a consistent tapering of Nifty returns over last 4 months. In the midst of this IPO boom, FPI flows into IPOs have been a redeeming feature, even as they continue to sell heavily in secondary markets.Ĭoncerns over Taper, Inflation, FII Selling, IPO Flows, Omicron and Paytm In October and November, IPOs collected Rs37,000cr with cumulative 2021 IPO collections at a record Rs114,653cr. The primary market story has been the highlight of 2021. ![]() However, Paytm is still 20% below the IPO price. Worse still, the stock cracked 41% from the IPO price, before staging a late comeback. The subscription at 1.89 times was disappointing. It was the largest IPO in history at Rs18,300cr. If the Zomato and Nykaa IPOs were the highpoint of the digital story, Paytm was a return to reality.
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